Re: Packard in the New York Times

Posted by Owen_Dyneto On 2011/4/28 12:42:10

In addition to all the factors that are commented on regularly, let's not forget that crude oil is transacted in U.S. Dollars, and the falling value of the dollar has contributed it's share to the cost increases. And that relative devaluation of the $ has helped "equalize" prices in countries with strong currencies, like the Euro. For example not so long ago when we were paying $1.80 a gallon, much of Europe was paying about 3 times as much. I'd guess the differential is much less now. Good for them, not so good for us.

Still, from what I observe, we're still not willing to walk 3 blocks to pick up milk or a newspaper, and kids that live 5 blocks from home still wait for Mom to pick them up. So it doesn't seem like the higher prices have really changed our habits much. We like to whine about it, but thus far we're not willing to do much about.

Non-branded regular in NJ is now about $3.69; Premium (93 octane) like Getty is $3.99.